Do you love trading biotech penny stock action?
Lots of traders do. That’s because these sketchy holdings can make great strides in news of trial results, new drugs, patents, or even attending conferences. (Think about it … who’s going to be in a conference and post bad news?)
But you have to trade those stocks for what they are – development companies that may not even have a product in the market.
And you need to be aware that any exciting news they post about a new drug or study results is likely just a bunch of BS fluff.
So what should you do
Learn to capitalize on the hype, volume, and patterns. Then move on to the next opportunity. Never stop and hope not. Especially in this market.
Now for the list of the top biotech penny stocks. I’ll show you what’s on my radar and why …
Top Biotech Penny Stocks To See
These are the top stocks on my watchlist. “Observe” is the key word here. There is no guarantee that there will be a trade opportunity. Remember, these stocks move FAST.
Before we get to my list of stocks to watch, here are some of my top penny stocks resources …
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Now, let’s get to the top biotech penny stocks to watch this week …
Biotech Penny Stocks # 1: Daré Bioscience, Inc. (NASDAQ: DARE)
The President and CEO of DARE will be presenting at an upcoming conference from March 15-17. The stock has been trading around $ 2 on a channel for a few weeks now.
I will watch this former runner for an upward breakout, ideally with more volume.
Biotech Penny Stocks # 2: Jaguar Health, Inc. (NASDAQ: JAGX)
On Monday, JAGX announced that it had received $ 5 million in non-dilutive funding. The stock had its first green day after the news.
I will be looking for sustained uptrend but there is a lot of overhead resistance.
Biotech Penny Stocks # 3: Minerva Neurosciences, Inc. (NASDAQ: NERV)
NERV reported a profit for the fourth quarter in the premarket on Monday. The stock rose after the news but traded at low volume.
This stock has an ugly chart and probably needs more volume to make a bigger move.
Biotech Penny Stocks # 4: AngioSoma, Inc. (OTCPK: SOAN)
SOAN is on my watchlist for the third week in a row. I looked for breakouts when the stock was trending. It has since withdrawn and ricocheted.
I will watch out for a breakout above the recent highs of $ 0.063. And if it can’t break out, I’ll be on the lookout for a morning panic dip purchase.
Biotech Penny Stocks # 5: Enzon Pharmaceuticals, Inc. (OTCQX: ENZN)
ENZN traded higher on the Monday following this report’s release. It should be noted that Carl Icahn’s stake in the company increased last quarter and he now owns 48%.
I will be looking for a sustained uptrend and retest of the 85 cent high.
Biotech Penny Stocks # 6: Aeterna Zentaris Inc. (NASDAQ: AEZS)
The CEO of AEZS was present at the HC Wainwright Global Life Sciences Conference yesterday.
The presentation could add interest and volume to the stock. The stock has been down since its big one-day move on February 8th. I will be looking for volume and a possible quick short squeeze to the upside.
Biotech Penny Stocks # 7: Skye Bioscience, Inc. (OTCQB: SKYE)
On Monday morning, SKYE announced that it had appointed an expert in cannabinoid science to its advisory board.
I will be looking for sustained uptrend but there is overhead resistance around 15 cents.
Biotech Penny Stocks # 8: Panbela Therapeutics Inc. (NASDAQ: PBLA)
PBLA management will be represented at three virtual conferences in March. Here is the schedule.
On Monday, the stock had a big move from $ 3.89 to $ 5.50. With a low float of around 8 million stocks, it could push more upside potential.
Biotech Penny Stocks No. 9: Auris Medical Holding Ltd. (NASDAQ: EARS)
EARS is agreed with Second Sight Medical Products, Inc. (NASDAQ: EYES). Stupid i know But welcome to Penny Stocks.
EYES recently took a giant step in FDA approval of its retinal prosthesis system. It’s not on this biotech watchlist because it’s no longer a penny stock … But it made it onto my stocks watchlist on Tuesday March 9th.
EARS has no breaking news so when EYES rises higher or when it presents a panic-buy opportunity, it’s a sympathy game.
Biotech Penny Stocks # 10: Onconova Therapeutics, Inc. (NASDAQ: ONTX)
ONTX is expected to release fourth quarter results after close of business on March 11th.
I’m not trying to predict earnings. I’ll make sure the stock responds to the news and one of my patterns.
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I’ll say it again … The stocks on my watchlist are not an automatic buy. Remember to do your own due diligence and research. If you trade without a trading plan, you are playing. Don’t be a degenerate gambler – act wisely!
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Biotech penny stocks are stocks of small development companies. These companies are usually desperate for cash. You need it to further develop products and to carry out tests and trials. Act with caution …
They are known to be extremely volatile. You can have huge fluctuations in price. One minute they’re flying high over positive news – the next they’re down due to poor test results, side effects, or stock dilution.
When you’re ready to take advantage of the volatility in price, these stocks provide great trading opportunities …
In my trading challenge chat room, my students and I talk about the hottest penny stocks. And many of the top traders who got their start in the challenge are now chat moderators, answering questions and helping new students.
If you want to join a community of top traders, apply for my Trading Challenge. I do not accept all of them. I only want the most dedicated students willing to invest the time and effort to become my next top student. Could that be you
What do you think of these biotech penny stocks that should be checked out? Let me know in the comments … I look forward to hearing from you!